HELP - Compass Debt Counsellors - CREDITORS MEETING 30th March in Leicester

fermi

You mean? http://www.actionfraud.police.uk/

CLS2015

You are super

fermi

CLS2015 wrote: »

Initial reports from the creditors meeting are not good. The money has gone.
If money has been lost that is fraud/theft.
I suggest anyone who has lost money to compass reports this to the police as theft/fraud.

Awaiting full report.

That is awful news if it bears out, but pretty much what most of us expected I think.

CLS2015

Hang fire reporting as theft.
I've been informed liquidators are investigating, and there may be a light at the end of the tunnel.
A theft investigation will cease this from happening, so hang fire people.

CLS2015

Awaiting full report.

CLS2015

I have edited previous post due to advice from someone at the meeting.
Awaiting full report.

fermi

Can anyone provide a detailed update?

Gilltheblackcat

So I was at the meeting, Am owed around £5000.

It would seem the only monies to be refunded, as alluded to by CLS2015, are those that the Directors are not to claim their owings.
Mark J Harrison was listed as a creditor for £2063,Richard Mott £33,769 and Richard Solloway £24973.

In the meeting they all retracted their claim.

It would seem from the Liquidators calculations around £1,5 to 2Million is potentially owed to, well, us.

However, he did say from the few agreements he has seen, no one actually signed for a 'ring fenced pot'

It would seem that the Directors 3 had been taking yearly £430k between them in dividends (which they were quick to point out had been taxed upon rather heavily).

When asked where the money was, The Directors 3 could only shuffle and say 'that's why we have asked to appoint the liquidators because we don't know'

The client pot stood at a maximum of £22k and this was moved (wrongly) to a VAT pot by their bank.

Make of it what you will.

A committee has been created, one of which is Himself a liquidator for another company.


Gilltheblackcat.

fermi

£1.5-2 million. :eek:

Vanished?

sourcrates

fermi wrote: »

£1.5-2 million. :eek:

Vanished?

Fast cars, and fast woman don't come cheap it seems !!!

Shocking waste of clients money !!!